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China's Tier 2 cities have high scope for retail: Report
Jun '13
China’s Tier 2 cities have a high potential for retail sector growth, says a report released by global research and consulting firm CBRE.
The 2013 edition of ‘How Global is the Business of Retail?’ takes a comprehensive view of new retail entries across 60 countries and 208 cities of the world.
For the first time, under ‘Retailer Representation - Depth of Coverage at City Level’, the report also examines the extent to which retailers have developed their store portfolios within cities to provide a better understanding of potential growth markets for retailers.
The report finds that in some markets the presence of different international brands is high, suggesting a relatively mature market, but retailer penetration rates are low which may indicate a significant potential for further store expansion.
The report measures the total footprint of 20 global fashion retailers in 208 cities across the world, with a view to establish the level of retailer penetration at city level and identify potential growth markets.
“In general, emerging markets present the best opportunities for retailers to increase their store coverage at city level. The highest potential for growth is arguably in China’s Tier 2 cities, where a high proportion of retailers already have a presence but penetration levels are low,” says the report.
According to the report, “Global fashion retailers have been quick to take advantage of the opportunities in fast growing, major maturing markets. The largest store portfolios have been built up in Beijing and Shanghai, with Moscow, Istanbul and New Delhi not far behind.”
Chengdu, Osaka, Shenyang and Mexico City are also among the top 20 cities of the world where large store portfolios have been built in 2012.

Fibre2fashion News Desk - India

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